Planning to buy Maruti car? Get ready to pay more.
The emerging reports on the web suggest that Maruti Suzuki, the country's largest car maker, has hiked the prices of all its models in the country by up to Rs 9,000. The Company's newest crossover offering, S-Cross, is not affected by the latest hike.
A report of ET Auto claims that the price hike has been effective from 11 August and the quantum of the hike ranges from Rs 3,000 to Rs 9,000. The reason for the revision of price is said to be the change in dealer margins and calibration in prices. This is Maruti's first hike in the last 22 months and interestingly, the hikes comes at a time when Maruti witnessed a higher margin of 16.7% in Q1 this year, which was also the highest ever figure in the last decade.
Recently, South Korean auto major Hyundai also announced a hike of up to Rs 30,000 across its models in the country, citing rising input cost. However, Hyundai's latest entrant in the market -- Creta SUV – was not affected.